All contractors and other parties who by contract provide materials and services to the City and who are required by law to post bond for such materials and services pursuant to the conditions and requirements of M.C.A. § 18-2-201, shall post bond in the amount of up to 100% of the entire contract price. The bond shall be made payable to the City as determined by the request for proposal.
(1985 Code, § 5.20.010)